Stock Trading

BSE Sensex closes 194 points higher, Market Roundup by Nirmal Bang Securities

India stock marketsIndian Stock Markets opened marginally higher, but later found support on back on strong global cues. The benchmark indices closed on a strong note for the second day led by telecom, capital goods, auto and bank stocks. The Sensex closed 194 points or 1.74% higher at 11,329 and the Nifty rose 1.67% or 57 points to settle at 3,480. The broader indices - CNX Midcap was up 1.68% and BSE Smallcap Index closed 68 points or 1.71%.

Sensex Gains 188.52 Pts As Buying Gathers Momentum @ 14.10 Hrs

Sensex Gains 188.52 Pts As Buying Gathers Momentum @ 14.10 HrsThe Sensex surged during afternoon trade led by buying in frontline stocks.

On sectoral front, Banking, capital goods, consumer durables and realty stocks contributed to most of the market rally, while IT and FMCG stocks went down.

On the other hand, BSE Midcap and Smallcap index gained 1.49% and 1.69% respectively.

The market was unstable. It marched up in a volatile early trade. Later it fell into the red zone. It regained during morning trade. Volatility ruled the roost during early afternoon trade.

Market Preview By Nirmal Bang Securities

Market Preview By Nirmal Bang SecuritiesAsian stocks advanced for the second day, as gains by financial companies countered concern the global recession is hurting earnings. India’s benchmark Bombay Stock Exchange Sensitive Index may rise a further 10 percent to 12,300 with investors seeking to buy amid a “market correction” and the outlook for corporate earnings improving, BNP Paribas said.

Indian Stock Market Roundup and Analysis for Friday: Nirmal Bang

Indian Stock Market Roundup and Analysis for Friday: Nirmal BangAfter volatile session, Indian Stock Markets bounced back smartly. Ending three days of consolidation and range-bound activity, NSE Nifty closed above its 200-day moving average of 3,392. The Sensex hit an intraday high of 11,203 before closing the day at 11,135 up 317 points or 2.93%. The Nifty ended up 2.8% or 93 points higher at 3,424 after hitting a high of 3,439 and low of 3310.

See Growth Recovery During The Second Half Of FY10: Goldman Sachs

goldman sachsTushar Poddar of Goldman Sachs expects growth recovery by the second half of FY10 in spite of the overhang of election and the fiscal deficit as fundamentals and macros are getting better.

Poddar also said that that as compared to the first half of CY09, the second half of CY09 would have more opportunities.

Tushar agrees with the central bank's growth estimation, and sees India's FY10 growth at 5.8%.

He said that if the banking institutions carry on slashing lending as well as depository rates, investors should see an uptick by the second half.

Sell Reliance Capital – Nirmal Bang

Sell Reliance Capital – Nirmal BangNirmal Bang Research has maintained ‘Sell’ rating on Reliance Capital stock to achieve a target that lies between Rs 475-430.

According to research report, investors can sell the stock with a strict stop loss of Rs 517.

Today (April 23), the stock opened at Rs 512.25 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 41.65 and 12.05 respectively. The share price has seen a 52-week high of Rs 1620 and a low of Rs 274.20 on BSE.

Nirmal Bang is of the view that investors should sell the stock today in order to avoid loss.